Professional Adviser is delighted to announce the launch of the new Working Lunches in partnership with Baillie Gifford and First State Investments. Travelling across the UK to provide valuable market insights for Senior Financial Advisers.

Santander announces 1,900 job cuts

Banco Santander has announced it is to cut 1,900 jobs across its UK businesses, Abbey, Alliance & Leicester and Bradford & Bingley, next year.

The firm says the move is part of a plan to realise cost savings of £180m by 2011, removing duplicated back office and support functions across the businesses. The firm emphasised there would be minimal impact on customer-facing roles in branches and call centres.

"Today's announcement shows we are on track to fulfil the commitment we made at the time of the Alliance & Leicester acquisition to grow our UK business while ensuring we meet our cost saving targets," says António Horta-Osório, chief executive of the combined UK business.